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The 2023 State of Returns

The 2023 State of Returns

Reading Time: 4 minutes
Many small business owners see returns as a cost center. Krish Iyer from Auctane discusses how to turn returns into a major gain in customer retention.

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  • Royal Mail Extends Teams Up With PayPoint for Wider Parcel Drop-Off Network
    February 22, 2024


    Royal Mail has teamed up with PayPoint to expand access to its Collect+ network, offering customers thousands of local stores across the UK for parcel services. The partnership aims to enhance convenience for senders and receivers, aligning with Royal Mail’s strategy to provide more options.

    Starting from March, the multi-year agreement will progressively extend to 5,000 Collect+ points by summer, catering to the rising demand for hassle-free parcel drop-offs. With around 50% of non-account sales now online, this move adds to Royal Mail’s array of drop-off locations, including Post Offices, Customer Service Points, and 24/7 parcel postboxes.

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  • Intuit Unveils QuickBooks Solopreneur to Empower One-Person Businesses
    February 21, 2024

    Intuit introduces QuickBooks Solopreneur, a tailored product catering to one-person businesses, offering easy-to-use features for financial management, goal tracking, and tax readiness. The surge in solopreneurship is evident, with nearly a quarter of U.S. consumers planning to start new ventures in 2024, reflecting a growing trend towards entrepreneurship for wealth creation.

    With QuickBooks Solopreneur, users can seamlessly manage their finances, leverage insights for informed decision-making, and prepare for tax time, catering to the needs of both aspiring and established solopreneurs. The product builds on Intuit’s expertise in serving self-employed individuals, providing enhanced flexibility and productivity tools to support the financial goals of solo ventures.

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  • DHL eCommerce Opens New Distribution Center in Virginia
    February 21, 2024

    DHL eCommerce has shifted its distribution center from Elkridge, MD, to a larger 138,500 square-foot facility in Manassas, VA, aiming to bolster its B2C domestic volume processing capabilities. With 130 employees, the new center, situated at 11400 University Blvd., boasts 41 dock doors and eco-friendly features like EV charging stations and electric HVAC systems.

    CEO Lee Spratt views this move as pivotal for DHL eCommerce’s growth strategy, aligning with the company’s expansion plans across the U.S., which saw relocations and new center openings in several key cities in 2023.

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  • Etsy Reports Q4 and Full Year 2023 Financials – Active Buyers Reached Record 92 Million
    February 21, 2024

    Etsy announced its financial results for Q4 and full year 2023, reporting over $13 billion in consolidated Gross Merchandise Sales (GMS) and its highest-ever annual revenue. CEO Josh Silverman revealed plans to invest in growth initiatives for 2024, including making Etsy a go-to destination for gifting, highlighted by the recent launch of Gift Mode.

    Despite challenges like a dynamic macroeconomic environment, Etsy marketplace GMS reached $3.6 billion in Q4, with Cyber 5 sales up 4% year-over-year. Active buyers hit a record high of 92 million, with nearly 10 million lapsed buyers reactivated and over 8 million new buyers acquired. Consolidated revenue reached a record $842.3 million, driven by growth in Etsy Ads and payments revenue, while net income was $83.3 million, impacted by restructuring costs.

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  • eBay Expands Luxury Handbag Consignment Service To Include More Brands
    February 21, 2024

    eBay has expanded its consignment service for luxury handbags, now accepting additional brands like Miu Miu, Lanvin, Jil Sander, and Marni. With over 30 brands already included, sellers can now streamline the process of selling their high-end items with ease.

    The service handles everything from research to listing, offering competitive commission rates and insured shipping labels for peace of mind. Turn your closet into cash effortlessly with eBay consignment.

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  • Etsy Announces New Safety Measures for Shop Onboarding in 2024
    February 21, 2024

    Etsy has revealed plans to implement enhanced safety measures in 2024, focusing on the onboarding process for new shops. These changes include the introduction of an enhanced identity check, a shop set-up fee, and potential adjustments to payment schedules for new shops. While existing shops will remain unaffected, new ones will undergo these updates to ensure a safer marketplace environment.

    These modifications align with Etsy’s dedication to maintaining a secure platform for sellers and buyers alike, complementing recent initiatives such as the introduction of a “From Etsy” section in Messages and reinforced enforcement of their Handmade Policy.

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  • The RealReal Appoints Ajay Gopal as CFO and Karen Katz as Chairperson, Strengthening Leadership Team
    February 21, 2024

    The RealReal has announced the appointment of Ajay Gopal as its new Chief Financial Officer, effective March 18, 2024. Gopal brings extensive experience from tech-enabled consumer companies like StubHub and Good Eggs.

    Concurrently, the company has named Karen Katz, a seasoned leader with a background in luxury retail and former CEO of Neiman Marcus Group, as Chairperson of its Board of Directors, effective February 20, 2024.

    These strategic appointments highlight The RealReal’s commitment to driving profitable growth and leveraging industry expertise to enhance its leadership team.

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  • eBay Releases 2024 Winter Update – Including Hiking Per-Order Fee
    February 21, 2024

    eBay announces a suite of new features aimed at empowering sellers to reach more buyers, streamline their operations, and enhance business protection this winter. Among the updates are improved tools for business growth, including “Sell it faster” recommendations and easier access to sale events.

    Additionally, sellers can now enjoy increased efficiency with drafts of listings saved for up to 75 days, while stronger protections against unpaid items and enhanced security for multi-user accounts have been implemented. However, eBay also adjusts the per-order fee for orders over $10.00, citing rising costs in the market.

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  • eBay Introduces Regulatory Operating Fee On EU-Based Marketplaces to Tackle Complex Global Regulations
    February 21, 2024

    eBay has unveiled plans to implement a new regulatory operating fee in response to the growing complexity of global regulations affecting its marketplace. Effective April 8, 2024, the fee will be applied to sales made on eBay sites in several European countries, including the UK, France, and Italy.

    The fee, set at 0.35% of the total sale amount, aims to address rising costs associated with regulatory compliance, encompassing consumer protection, environmental standards, taxation, and customs measures.

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  • Etsy Announces Spring Sales Events for 2024
    February 20, 2024

    Etsy announces its lineup of spring sales events for 2024, offering sellers opportunities to capitalize on increased site traffic. The upcoming events include Spring Refresh from March 11 to April 15, focusing on Home Improvement and Seasonal Furnishings.

    Mother’s Day sale runs from April 1 to May 12, while Father’s Day sale spans from May 13 to June 16, with sellers urged to schedule sales and opt in for potential Etsy marketing features before specified deadlines.

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